Latest news with #RM1.5
The Sun
2 days ago
- Business
- The Sun
U Mobile appoints CIMB as coordinator, lead arranger of up to RM4b financing for 5G rollout
PETALING JAYA: U Mobile has appointed CIMB as the company's loan coordinator and mandated lead arranger to facilitate and arrange financing of up to RM4 billion to support the nationwide deployment of its cutting-edge 5G network infrastructure. As part of the arrangement, CIMB intends to participate in the financing of at least RM1.5 billion with the balance to be syndicated among other financial institutions. The appointment was formalised at a signing ceremony in Kuala Lumpur on Friday. The financing will fund U Mobile's capital expenditure (capex) to accelerate the rollout of its Next Gen 5G network, which aims to achieve 80% coverage of populated areas by July 2026. The agreement was signed by U Mobile CEO Wong Heang Tuck and CIMB Group CEO of wholesale banking Chu Kok Wei, witnessed by U Mobile chief financial officer Sandy Tsang and CIMB head of corporate and public sector coverage Denise Wong. 'U Mobile is pleased to deepen our partnership with CIMB through this significant arrangement. CIMB shares our commitment to driving Malaysia's digital economy forward through connectivity and innovation,' Heang Tuck said in a statement. 'Partnering with a strong financial institution like CIMB demonstrates our ability in executing our capex programme efficiently. Their confidence in our financial discipline and growth trajectory reinforces our ability to deliver an enterprise-grade 5G network that is fast, scalable, and impactful for both businesses and consumers,' he added. Chu said, 'CIMB is pleased to partner with U Mobile on this strategic initiative to accelerate 5G coverage across Malaysia. This next-generation network will be a key catalyst not only in boosting social connectivity and economic inclusion across Malaysia, but positions Malaysia as a key enabler of Asean's digital economy. 'As a key financial institution in Malaysia and the region, we are grateful for the opportunity to continue leveraging our financial expertise, entrenched experience and strong business networks to spur U Mobile's growth in its national ambitions and Malaysia's broader digital transformation.' This milestone underscores U Mobile's continued momentum as the nation's newest 5G network provider, spurring digital connectivity and innovation, solidifying Malaysia's digital ambitions.
The Sun
3 days ago
- Politics
- The Sun
WRUR programme proves effective bridge between government, people
ALOR GAJAH: The 'Wakil Rakyat Untuk Rakyat' (WRUR) programme is seen as playing a crucial role as a bridge between the government and the people in efforts to resolve various issues and provide for the needs at the grassroots level. Melaka Chief Minister Datuk Seri Ab Rauf Yusoh said the four WRUR series held so far have proven the effectiveness of the programme, with nearly 1,000 public complaints received and the majority of them resolved within two weeks. 'The public is definitely more confident in the existing government's administration and our concern as administrators, as we will also continue to serve the people as best we can. 'With this bridge, namely the WRUR, we can ensure that every need of the public can be addressed... this effectiveness is by the people for the people,' he told reporters here today. He said this after officiating the closing of the Lendu State Legislative Assembly WRUR programme, which was also attended by Lendu assemblyman Datuk Seri Sulaiman Md Ali. Elaborating, Rauf said the achievements of the WRUR programme implementation also encompassed various aspects, including development, education and welfare, based on the complaints that were resolved. He added that this was through various upcoming projects aimed at improving infrastructure, public facilities, road and drainage repairs, flood risk management and public welfare at every WRUR series, including in opposition areas. 'For the Lendu state assembly WRUR, we successfully carried out 145 projects and attended to 269 complaints, of which 183 issues were resolved within two weeks, while the rest are still being addressed. 'This includes an allocation of RM2 million that was announced for the flood retention pond rehabilitation project for the Solok Duku and Durian Daun areas, as well as several other facilities for the local community,' he said. He added that an allocation of RM1.5 million has also been set aside for the upgrading of a shooting range and dormitory for RELA (People's Volunteer Corps) personnel, which are expected to be completed in August. He said that complicated complaints and requests would not be pushed aside, but instead brought to the state government for comprehensive monitoring, scrutiny and coordination. 'The state government will constantly strive to ensure the people benefit directly through initiatives that not only safeguard welfare but also drive economic and social development,' he said.
The Sun
3 days ago
- Politics
- The Sun
WRUR programme proves effective bridge between govt, people
ALOR GAJAH: The 'Wakil Rakyat Untuk Rakyat' (WRUR) programme is seen as playing a crucial role as a bridge between the government and the people in efforts to resolve various issues and provide for the needs at the grassroots level. Melaka Chief Minister Datuk Seri Ab Rauf Yusoh said the four WRUR series held so far have proven the effectiveness of the programme, with nearly 1,000 public complaints received and the majority of them resolved within two weeks. 'The public is definitely more confident in the existing government's administration and our concern as administrators, as we will also continue to serve the people as best we can. 'With this bridge, namely the WRUR, we can ensure that every need of the public can be addressed... this effectiveness is by the people for the people,' he told reporters here today. He said this after officiating the closing of the Lendu State Legislative Assembly WRUR programme, which was also attended by Lendu assemblyman Datuk Seri Sulaiman Md Ali. Elaborating, Rauf said the achievements of the WRUR programme implementation also encompassed various aspects, including development, education and welfare, based on the complaints that were resolved. He added that this was through various upcoming projects aimed at improving infrastructure, public facilities, road and drainage repairs, flood risk management and public welfare at every WRUR series, including in opposition areas. 'For the Lendu state assembly WRUR, we successfully carried out 145 projects and attended to 269 complaints, of which 183 issues were resolved within two weeks, while the rest are still being addressed. 'This includes an allocation of RM2 million that was announced for the flood retention pond rehabilitation project for the Solok Duku and Durian Daun areas, as well as several other facilities for the local community,' he said. He added that an allocation of RM1.5 million has also been set aside for the upgrading of a shooting range and dormitory for RELA (People's Volunteer Corps) personnel, which are expected to be completed in August. He said that complicated complaints and requests would not be pushed aside, but instead brought to the state government for comprehensive monitoring, scrutiny and coordination. 'The state government will constantly strive to ensure the people benefit directly through initiatives that not only safeguard welfare but also drive economic and social development,' he said.
New Straits Times
3 days ago
- Business
- New Straits Times
U Mobile appoints CIMB as loan coordinator for RM4bil 5G funding
KUALA LUMPUR: U Mobile has appointed CIMB as its loan coordinator and mandated lead arranger, securing up to RM4 billion in financing to support the nationwide deployment of its Next Gen 5G network infrastructure. In a joint statement, U Mobile said the funding would accelerate its capital expenditure (capex), aiming to achieve 80 per cent coverage of populated areas (COPA) by July 2026. As part of the arrangement, CIMB will contribute at least RM1.5 billion, with the remaining amount syndicated among other financial institutions. "This milestone underscores U Mobile's continued momentum as the nation's newest 5G network provider, spurring digital connectivity and innovation, solidifying Malaysia's digital ambitions," the statement said.– BERNAMA
Barnama
3 days ago
- Business
- Barnama
U Mobile Appoints CIMB As Loan Coordinator For RM4 Bln 5G Funding
KUALA LUMPUR, May 31 (Bernama) -- U Mobile has appointed CIMB as the company's loan coordinator and mandated lead arranger to facilitate and arrange financing of up to RM4 billion to support the nationwide deployment of its cutting-edge 5G network infrastructure. In a joint statement, U Mobile said the financing would fund its capital expenditure (capex) to accelerate the rollout of its Next Gen 5G network, which aims to achieve 80 per cent coverage of populated areas (COPA) by July 2026. As part of the arrangement, CIMB intends to participate in the financing of at least RM1.5 billion, with the balance to be syndicated among other financial institutions.
